London - GlaxoSmithKline has launched an $890m share sale in drug company Aspen Pharmacare, a source familiar with the matter said on Thursday.
GSK said earlier on Thursday that it had launched the sale of around half its holding in the company. A price range of R365 to R385 per share has been set for the placement, representing a discount of 5.3% to 10.2% to the closing price.
The share sale is being run by Citi and UBS.